Last day after pay monthly commitment at Hong Leong Bank Bhd, I’ve ask their staff how much outstanding my car loan. She gave me the amount after substract from RM500 I’ve pay for May payment.
The amount is RM10,800.51. Wow!! It is still a huge amount but I think that I could settle it before the exactly the time on Mei 2018.
I’ve make schedule payment table using MS Excell. Based on calculation if I’ve pay RM500 a month, the loan could be finish on February 2018. 2018 means that I’ve finish the car loan in my 40 years old.
It is good but I hope I could finish it next year. Maybe next year I could do full settlement which could reduce my outstanding and I could finish it faster than schedule.
It is important to finish this car loan as I’m planning to shorten my housing loan and buy another property for investment.
My biggest problem is my wife want to buy another house for living. The house price is up to RM2++K which is expensive for me. My plan is to buy a cheap below RM100K housing that I could use it for rent or make it as homestay.
It could help me to have another asset and some passive income. The property investment is good and I also could do flipping if I want to get profit in short time. I’ve learn some of the property investment and need to start it early.
Maybe it look late begin at 40s but I think it is okay. I won’t think that I could property more than 5 but it is okay if I could bring 3-4 asset for future life. The asset could give some income for me and my family for future life.
After this, I will make another table for housing loan. I just finish 10 years for the housing loan and have 20 years onward. Maybe if I’ll plan properly the loan could be finish early than that. My aim is to finish in next 10 years. Am I crazy? Yes, I need to become crazy to do that.
Any suggestion ? Let’s think and discuss it.